Final answer:
An excellent credit score helps with obtaining favorable car financing terms such as lower interest rates and monthly payments.
Step-by-step explanation:
An excellent credit score will help with obtaining favorable car financing terms, such as lower interest rates and monthly payments.
Lenders consider credit scores when deciding whether to approve a loan and determine the interest rate. A higher credit score indicates a lower credit risk, making you a more desirable borrower.
For example, if you have a credit score of 700 or above, you may qualify for a lower interest rate compared to someone with a score below 600. This means you would pay less money over the life of the loan.